“The Irresistible Offer” Creating and Positioning Your Signature Product
Creating Your “Irresistible” Offer
One of the easiest ways to get started online is as an affiliate marketer, but it is not long before you realize you could make even more money if you had your own product.
Marlon Brando said it best in The Godfather (Part 1):
“I'm going to make him an offer he can't refuse.”
There are so many product offers out in the market place right now for your potential customers to choose from. There are “GOOD” offers, “GREAT” offers, and “IRRESISTIBLE” offers.
You need to make sure yours is one of the “Irresistible Offers” that they are finding.
An offer so great, that they have to act upon your call to action that you will be giving them and buy your product.
You will have done your research and will know how to position this irresistible product within the mind of your customer’s current state of thinking.
Your product will be screaming differentiation.
I have been telling you that we will be getting to product positioning and product differentiation, and this is the chapter that we will dive into these two topics.
Now you are faced with a couple options right now as you begin into this chapter.
You can come into it like so many people do and begin thinking of every excuse why you can’t create your own product.
I went there myself when I was first told I needed to create a product in order to really come out with a bang when I first got my business started.
Your second choice is that you can continue working on your mindset like we discussed in the 2nd chapter of this ebook and start looking at how you can create your irresistible signature product, instead of why you can’t!
The choice is really up to you, isn’t it?
What is an Irresistible Offer?
First of all let us take a look at what really makes an offer irresistible in the first place. It is actually quite simple: When your prospect reads (or hears about) your offer, it should appear to be so incredibly compelling, and that you are being so utterly generous with them, that they feel like they’re totally RIPPING YOU OFF and getting away with it.
You need to figure out how you will be able to pump up the offer and make it an absolute no-brainer that your prospects will KICK THEMSELVES if they miss out on it.
So we are not really talking about making a half attempt at an ebook and flopping it out into the marketplace in hopes to make a sale.
We are talking about that offer that when you have done your job right, your prospect takes out their credit card and buys
Required Get Elements for Creating Your Signature Products
Now there are some elements to a truly irresistible product offer that you are going to need to do or include into your offer. Call these elements the “GET: elements.
The word “GET” is going to be seen as an action word. This means, these elements are going to require you to actually do something.
Let’s take a look at what you are going to be required to do in order to get going with your irresistible offer.
- Get discovering your niche. First you need to go back to chapter 3 in this book if you have not discovered what Niche you are going to be creating your product for.
What are you doing in this chapter if you have not even figured out chapter 3 yet?
- Get researching your targeted market. Again this is earlier things you need to be doing. You need to know what the problems are that people within your Niche are looking to have solved. How can you possibly have the solution if you don’t know the problem yet?
You need to get researching my friend. What are the problems, what products are out there already, what holes need filled, what are you going to create that is going to be different than what’s out in the marketplace already, who are your competition, and what are they not doing that you can do, what are they doing that you can do better at?
You see there is much research to be done. This isn’t just a, quick jump in and hope to make a little money on the internet kind of deal here. We are talking about you being serious about your business and really making some good money.
I will talk about a way in this chapter that you can save a lot of time and trouble in your research, and get something out that will be truly irresistible, but much simpler to accomplish when it comes to product creation.
- Get over your FEAR which keeps you making one excuse after another as to why you can’t. Remember I told you that you can’t keep making excuses. Your excuses may seem legit to you but, they can all be overcome if you really are serious about making this work.
- Get finding out what WORKS for YOU. Sometimes we try to do things that we see everyone else doing, but we just can’t seem to make it work for us.
That is OK! Don’t let this stop you from moving forward. It might not be what is right for you.
You have to discover what is right for you and not worry so much about what is right for everyone else.
I sued to think I had to create products just like I seen everyone else doing. I had to come up with some amazing software product that would just dazzle the marketplace and my Internet friends.
Well if I ever create one it will be an act of God because that is not how my mind works.
But turn me lose on a webinar where I can teach and train and watch out. I will create one product after another and I have done just that. I record my trainings and then release them as a product. Works like a charm for me every single time.
Again what works for me though may not be your thing. Remember back in chapter one when we talked about discovering your strengths? I hope you did what I told you to do and wrote them down.
I am going to ask you to take a look at them right now and start relying on what you do well instead of thinking about what everyone else is doing that works for them.
- Get EXCITED & have FUN. I guess this speaks for its self doesn’t it? You can make this like your dead end job you go to every day of your life and let it drain your strength and energy, or you can decide from the very start that you will make this fun.
Remember your working in a Niche that excites you and is coming from your passion. Well I hope that is the case anyway.
Maybe you just chose one of the Niches I suggested and are giving that a try. If that is the case let me throw a little something in here that might strike up a passion within you.
How does making money to you sound right now? Does that sound like something you could be passionate about or at least develop a passion for? I thought so.
There is no better way to make money on the internet than having your own product, so let’s get at it.
What Makes My Product Irresistible?
So maybe you’re agreeing that you need an irresistible product by now. But your next problem you can’t seem to get past is the problem of not knowing what makes your product so irresistible. Here are some things to consider as your thinking about this question.
You may want to go and look at some other products you have purchased and maybe some sales pages for products that are out there right now.
This will help you if you take these questions and see if you can identify any of them in the product offers that you look at.
A little note of help for you right here is this; start looking at your email inbox a little different. Instead of looking at it as a pile of promotions from 100’s of marketers that you’re really getting sick and tired of seeing on the account that you’re mad because they are making money and you’re not, look at them as ways you can discover how to either do things right or do things different than the ones you see as doing wrong.
What if you started taking a look at sales pages and see the different elements that are included to get people to buy. What if you looked at the offers they have that follow one of your purchases as a way you can set your model up like instead of looking at it as your worst nightmare trying to go through all of the up-sells, down-sells, and OTO’s they have set up for you to go through before they deliver your product to you.
What if you were to check out all of the follow up emails you have flooding your emails inbox every day, and see how many hey are sending out in a series and what they are including in them, instead of looking at them as a pain to you to have to open up or delete. After all isn’t it you that signed up for them in the first place? Of course you may not have known what was to follow, but you had to know something was going to be coming your way after you bought the product.
So here is something you can do instead of just complaining about what is going on inside of your email inbox. Take a good look at it as a learning experience. Take these questions and see if they are doing things correct and how you can incorporate them into your own products.
- Does my product or service have relevance?
- Can the prospect see there is credibility?
- Is there true value (return of investment to customer)?
- Does the customer see a risk to them to purchase?
- Is there a sense of urgency?
- Do I have a targeted audience, and the right audience?
- Can the prospect or customer visualize the benefits?
- Does my offer seem too good to be true?
- What do I offer that the competition doesn't?
- What makes my services or product unique above my competitors (USP)
What’s In It for the Customer
I know you would rather look at it as what’s in it for you right? Well if you go that route you will end up looking at the backend of failure. It is not a pretty sight and most have seen it way to many times already.
You have to think of the customer first. Your potential customer is going to begin processing the offer in front of them in their mind and looking for certain things that will help them decide on whether or not they are going to make a decision that is right for them.
At the moment of making a purchase they are not even thinking or caring about how much money you’re going to make. They don’t even care about you yet.
They just want to know the risks involved to them and the benefits they will receive, or the return on their investment.
So when creating your irresistible product offer, these are some things that the customer is going to take into consideration. You must do your job to implement these things into your offer to make it an offer the potential customer just can’t say no to.
- Relevance – Why does it matter? There must be a problem. If there was no problem that you are solving with your offer, then what is the relevance of your offer?
- Credibility – You must convince the customer that you can solve it. This is why product creation is so important. It gives you credibility. You need to be seen as the credible expert that has the solution to the problem the potential customer is facing. They have to also believe that you are “the one” that is going to solve it over top of many others saying they can do the same.
- Value– You can solve it better than anyone else and the customer will get a high RETURN ON INVESTMENT (what they will get in return for taking your offer).
You really need to start thinking about the words “OVER DELIVERING” right here. What I mean by this is that when the customer comes to your website offer. They need to see in their mind that there is no way they can lose by spending the money you are asking them to spend. They can honestly see that the value they will be getting for the value they are spending is going to be higher. I am not talking trading dollar for dollar. I am saying if they spend $1 they need to feel like they are getting $10 worth of value back.
- Risk Protection – Transfer the risk from the customer to you. Take all risk out of the picture for the customer. If you’re potential customer shows up and feels there is any risk to them whatsoever in making the purchase they will close out and leave.
You need to do whatever you can to take away any risk at all. It might be just the fact that you have a good strong money back guarantee that comes with your product.
Whatever you need to do that will eliminate risk to the customer you need to do so.
- Sense of Urgency – Why should they buy it right now from you instead of waiting? Here is a good time to go and check out some sales pages to see if you can identify the sense of urgency that is placed within the sales copy.
Maybe it is that the price is going up at any moment, you have a limited amount of copies to sell and then you closing it down. Maybe it is only going to be live during the launch process.
Whatever you use as a sense of urgency, you must use something that makes sense and can be justified by you as to why you are using the sense of urgency reason. It has to be believable to the customer.
One last thing on your sense of urgency is to remember to follow thru with what you are saying. If you are limiting your copies make sure you close it down after that many copies are sold. If you do not follow thru true to your word, you will eliminate the sense of urgency the next time. In other words, “they won’t believe you the next time!” They will remember and make the decision in their mind that they have more time to shop around.
- Targeted Audience – You can come up with the best offer in the world and you will totally miss the boat if you offer it to the wrong group of people. You CAN’T sell ice to an Eskimo, as the saying goes, but you CAN sell ice, and a lot of it, to a very thirsty crowd. All you have to do is give them a taste… and then offer them a second glass.
When someone shows up to your offer they must see that it is something that is offering them the solution to the problem they are searching for. If they do not see this right away, once again they will be gone.
Leave no room for doubt in the potential customer’s mind here. You may notice that I continue to use the words, “potential Customer” pretty heavy throughout this chapter. I want you to remember that they are not a customer until they purchase. This may help you realize the importance of getting all of this right. It is not to scare you off out of fear that you won’t be able to achieve all of this, I just want you to see the importance.
There is nothing worse than going through the trouble of creating a product and ending up with zero results.
- Instant Offer Summary – Give the customer something they can use to gauge the validity of your offer and what makes it better than buying from the competition. Domino’s Pizza’s “Pizza in 30 minutes or it’s free” is a good example of this. Another good example is Federal Express’s: “When it absolutely, positively has to be there overnight.”
As the potential customer is looking at your offer they need to be able to see a clear picture in their mind on how your product is going to benefit them. They need to be able to picture that benefit and the feeling they will feel from the benefit.
With the FedEx example I used what are the benefit and the feelings you picture in your mind.
I see myself procrastinating in getting out my Christmas gifts and knowing that my family will not be opening them on Christmas like I hoped they would. But now I see that there is someone out there that says they can still get the gifts delivered to my family overnight and on time. I picture my family opening the gifts up on Christmas morning and the feeling it gives them and me as they open them on Christmas morning as planned all because someone offered me thee solution to the problem I was facing. and now the gifts will make it on time instead of late.
- Believability- If an offer sounds too good to be true, it probably is. the last thing I want to say is this one is kind of a hard one for me to comprehend as well. I am saying that you have to make this offer so great that your potential customer just has to have it, and now I am telling you to make it so it does not seem too good to be true.
There is a fine line here. A lot of products are filled with so much hype that you have a hard time trying to decide if it is the hype or the actual value of the product that seems so good.
Yes you need a degree of hype because hype does sell. But you want honest hype. Not hype that is a bunch of fluff just to fill your sales page.
What I am trying to say is that, yelling louder doesn’t make your writing more believable.
You will increase your sales with true believability. People won't buy from you until they're confident you will deliver exactly what they expect to get. You can help them develop that confidence by making certain every claim you make about your product or service is fully believable.
Some ways to add believability are as follows:
Provide Specifics- You will find that you can increase your believability by converting general statements into very specific descriptions. Instead of using statements such as; "It's fast, easy and inexpensive" you may want to try to do your best to accurately describe your product or service. Give the specific description of how fast it is, how easy it is, and how inexpensive your product is. Specifics will be seen as being more believable.
Another so called trick of the trade to add believability is to avoid claims that are using rounded numbers such as, (10, 20, 35, 50, etc.) Instead, give them more specific numbers to see. Give them numbers using fractions or decimals. Here's the reason why specifics are much better than rounded numbers.
Which of the following 2 statements sounds more authentic to you?
- Our clients average 50 percent more sales than anyone else that are going through similar programs given by the competition..
- Our clients average 47.7 percent more sales than anyone else that are going through similar programs given by the competition.
You will find that using testimonials from ordinary everyday satisfied customers can be a powerful selling tool, and increase believability. They are good in producing your believability because they have a tendency to prove to your potential customer that you already delivered what you promised to other customers.
The most effective testimonials describe a specific result your customer enjoyed by using your product or service. Don’t use results that can’t be proven.
If the person was paid for their testimonial or endorsement, U.S. law states that you need to make this clear up front on your web page.
The last thing I will cover on Believability is that you need to come across as believing in your own product yourself. If you do not believe in it yourself, how can you honestly expect anyone else to, and why are you trying to sell it in the first place.
Many people do not create that first product because they are unsure of it themselves. Why would anyone want to by this from me in the first place?
The reason why is because it is the solution to the problem your potential customer has been looking for, and it is your responsibility to deliver this solution and give them the help they need in solving their problem so they can have a better life.
Think Long Term
When creating your first product you need to start thinking long term. Don’t come out being just a one shot wonder and then disappear. Begin to think about what is going to come next and what follows this first product.
Now you understand why we talked about backend marketing strategies already.
This is a Big Deal – Will you be satisfied to make just one sale or would you rather have a customer for life? Wouldn’t it be better to have a customer who buys from you time and time again? Remember, It is harder and cost more to obtain a customer than it is to sell to them the second time.
Be Generous – If that means making LESS profit up front, go for it. Always be thinking of ways you can over-deliver value to your customers.
Ask yourself, what do my prospects truly want that I can give them at low or no cost that will skyrocket the VALUE of my product? And then give it away. Way too many marketers and business folk out there are stingy in what they give out.
Put Yourself Out There – You need to put yourself at the mercy of your customers. Once you’ve got your prospect hooked on what you’ve got to sell, reel them in again and again.
If you are scared about just going for it and putting yourself out there, then maybe it is time to do some re-thinking on the whole idea of being a business owner.
You have to be seen as the credible expert in your targeted Niche. It is time to really jump into the spotlight. It is time to open up and let them see the authentic you. Make sure that authentic you is a person they should be seeing. J
I really believe that you have a lot of creativity within you. You might not see it but it will come out trust me on this.
As you begin to craft your product let your creativity shine forth. Look for ways you can add something different to your product, or to put a new spin on a product that has been created already
- When you’re crafting your offer, let your creativity shine.
- How creative can you be in your payment terms to make it as easy as possible for your prospect to buy from you . . . and for you to still make money?
- Can you cover shipping cost?
- Can you send them the package for a 30-day trial?
- Can you be creative with your guarantee? Instead of a 30 day guarantee maybe you can add a 6 week guarantee or even a lifetime guarantee. How much will that show your visitor that you really believe in what you are offering!
- Can you add special bonus offers? Either create yourself or better yet use PLR
Now that we are talking about bonus offers let me cover them a little more in depth.
Marketers frequently either don’t include bonuses at all, or pack their products full with untargeted, meaningless bonuses that nobody actually wants. These don’t even make sense in the mind of the customer.
Your bonus offer must have the same characteristics as your primary offer. Your bonus offer must be relevant… Must make sense in the customers mind
Use Private Label Rights for bonus offers! I find that creating great bonus offers are easily created by picking up some great products that come with Private Label Rights that allow me to spice up and use them as bonus offers to my paid products.
Using bonus offers are a great way to create more value and get higher conversions for sales of your products. If they make sense to be there in the first place.
The more relevant to what someone is purchasing, the better. We all like to receive a bonus gift when we make a purchase, so think outside the box and see what you can come up with that would make sense to your market.
Product Creation and Idea Generation
Before you begin on the actual product, you need to decide what your product will consist of.
Use competitive analysis to find what is missing in the marketplace. Search for weaknesses in your competition.
Come up with ideas based on what people want, need, and what’s missing to solve their problems.
A great way to do all of this is to purchase your competition’s products to see what they deliver and how they deliver it and what you can add to make it better
Product Creation Ideas
- Decide on where your strengths lay to create the best product you can create. If you’re not a techy type person you are probably not going to lean towards software products or building websites for others. Look at the strengths you know you have and begin there. If it is teaching look into training webinars and recording them as an example.
- Combine competitor’s products together to come up with new ideas. Maybe some of the products you see are offering ebooks. The next sets of products you see are doing just video trainings, and yet others are doing coaching. Can you do a package that contains the video trainings to go along with your ebook to ensure the customer is able to understand what they are reading? Maybe you follow up with a limited coaching program or live webinars, or question and answer calls to add extra value.
- Search websites like Clickbank.com to find out what types of similar products are out there and look for holes to fill.
- Determine what price point you need to enter the market at to compete. Beware of pricing too low (think Rolex VS Timex)
- Look for Private Label Right’s products you can tear apart and use to include in your own package. Don’t you like how I keep bringing up PLR products? I am just trying to make a point and give you an easier way to go about creating your irresistible offer.
Creating products can be easy. There are many different types of products to create:
- Audio files (mp3s)
- Transcripts of audios (escriptionist.com)
- Flow charts (smartdraw.com)
- Camtasia videos (how to)
- Resource lists
- Stand-alone software
- Web and content-based memberships
- Software plugins (like wordpress plugins)
- Graphics packages, or anything that compliments a structure many
- are already using.
- Coaching & mentoring
- Offline events
- Physical products: Books, CDs, DVDs, etc.
- Live Webinars and Teleseminars
Webinars and teleseminars are two of my favorite ways to keep in touch with my customers, create valuable relationships and deliver top quality content.
Instant Teleseminar (Teleseminars)
Not only are a these last two methods both a fantastic way to deliver content and build relationships, but also webinars and teleseminars are both fast and easy ways to create a product.
Product Creation Using Webinars and Teleseminars
Because webinars and teleseminars are my favorite ways to create great products I am going to spend just a moment covering them.
First it starts with creating a great content-rich PowerPoint on a subject in your niche that you are an expert at, and then starting up the webinar serve and click record. Then you just teach away for instant product creation.
Some benefits of using Webinars and teleseminars are:
- Product creation-Doing the trainings either live or private and recording the trainings.
- Product introduction- Introducing your products to the market and selling it at the end. Kind of like doing your own product review.
- Relationship building- Getting on a training webinar is a great way to begin to get to know your customer’s needs and for them to get to know you. It opens up a form of two-way communication that is very much needed in your business with your customers.
- Credibility building- Trainings with your customers are a great way to show them you are the expert in your Niche and that you know how to help them continue to grow even past the initial purchase or experience with you.
- List building-I will always recommend that whatever you are doing… you need to be list building in the process. Send your prospects through a squeeze page to sign up for the training. You just need to use the many methods of driving traffic to get traffic to the squeeze page.
- The best way to do this is to have something of value for your JV partners to offer their subscribers and send you the traffic you need.
- Vital two-way communication- I mentioned this already but it is so important it needs to be mentioned again and again. Opening up two-way communication with those you are marketing to is one of the most important things you can do in your business.
- If you are having troubles thinking up products to offer because you are unsure of what your customers may be wanting from you next, do yourself a big favor and just ask them. Get them on a webinar and at the end let them begin to tell you exactly what it is they need from you and then you create the product and deliver it to them.
Once I figure this out, I never again have wondered what I should be creating. My customers just kept telling me.
- Affiliate marketing tool-Do a training specific to an affiliate product you are selling, and then offer the product at the end. Like doing a review of the Affiliate product for your audience.
You will need good screen capture software such as Camtasia and record your presentation and your voice while presenting
Deciding Your Main Goal First
When creating your product you will need to decide what your main goal is that you are trying to accomplish with your product.
Deciding on the main goal you want to accomplish will also help you with setting price points and commissions.
- Is your main goal to accomplish list building? If this is the case you may want to just give your product away or offer your JV partners 100% commissions for them to really push traffic to your product for you
- Is your main goal to make money? If this is the case you are for sure not going to want to give it away. At least that is what you are telling yourself right now. The way you feel about this is going to depend upon how much thought you have put into chapter 3, setting up your backend strategy. It is very probable that you can make more money on the backend than you will ever make on the front end if you have set the backend up to correctly monetize.
- You also may not want to offer out 100% commissions on the front end. Maybe you offer a 75% commission to your JV partners on the front end product and 50% on the backend products.
- Is your main goal to brand yourself? This is a good goal to have. Many times you will find yourself building everyone else’s brand on the internet than your own if you’re not careful.
Personal branding is one of the most important components to building your own home based business. If you look at all of the most successful internet marketers you will notice they all have one thing in common. They all have built a highly attractive personal brand out in front of their offer. You will find that a lot of other marketers will not teach this as most would just prefer to have you just go out and build their brand instead. Oh by the way this is something that is great for them, but not the smartest thing for you when you’re looking towards your long term success in this industry.
Product Creation & Idea Generation… Access PLR Content
In this next section I want to try and eliminate what some see as a very big problem to product creation.
The problem you are facing is that creating your own product could simply take you weeks, and sometimes even months to produce, and this is if you have some idea of the product you want to produce.
So with the problem of taking a long time to produce a product staring them right in the face and not being able to see a way around this problem, most will go and check out the Affiliate Marketing business model. Although a great model to follow in the long run, it is not the best way to start out. You see you still do not have credibility which is a must when it comes to recommending even Affiliate products.
People only buy from people they know, like, and trust.
Here is a solution to this big problem that just might be your answer.
Many product creators use PLR content for their products as this saves time and money and gives them access to material that has already been researched and created, and is easily accessible.
Remember that an important part in choosing and using PLR is that you should always try to get high quality content from the very beginning.
I covered this next little section back in Backend Marketing but I am going to quickly go over it again in case you skipped right past it thinking Backend Marketing was not what you needed to be doing yet.
Using Private Label Rights products are such an amazing way to create awesome Irresistible products. There are so many ways you can use other content that has already been created for you. You just re-name and brand as your own signature product.
- Find several and take pieces and parts from each of them and create a brand new product for your backend.
- Find high end training courses that compliment your front end
- Use PLR as bonus offers for increasing your backend Affiliate product recommendations to increase conversions.
- Break high end courses with several modules into several smaller courses.
- Just personalize it, improve it and market it
The challenges of creating a product seem to stop many cold in their tracks. As soon as you mention product creation to anyone you get the same excuses coming up.
- No Time
- No Money
- Lack of Idea
Again I will have to say that this is where Private Label Right’s products come to your rescue. It eliminates many of your excuses.
- Time Saver -Who wouldn’t want more time in their day? Product creation takes time PLR gives back time.
- Inexpensive-PLR is easier on the wallet. Who doesn’t like that! J
Private Label rights products are very reasonable in cost, especially when you start factoring in all the time and money you would have to spend creating the product in the first place. Someone else has already invested the needed time and money.
- Flexibility -Rewrite it, Re-brand, and add your own spin and personality
- Profitable -Very high return on investment- When you factor in that you may pay $37-$497 for a good PLR product and then have the rights to set it up and re-launch it and generate a 6 figure income the return on your investment is huge.
- Idea Generator- Many times this is the big hold up of product creation…coming up with an idea. With PLR you don’t have to come up with the idea, someone else already did that for you!
Here's a Quick Quiz for you...
- Are you having problems finding great new product ideas?
- Are you investing too much time & money and still getting nowhere?
- Are you wasting too much time looking for your first/next big product idea?
If you are struggling to create your own product to sell online, then the question should not be, “Why Use PLR? But why are you not using PLR?
Product Creation Outsourcing Secrets
Another avenue to explore in product creation is the avenue of outsourcing the creation.
I highly recommend it but it will come down to your personal preferences.
If you’re looking at limited time then outsourcing is a great way to give you back some much needed time to do the other things in your business that will help you further generate income potential.
There are many places on the internet that you can find that have willing and very capable people to handle just about anything you can imagine for them to do.
Places such as; Elance.com, guru.com, rentacoder.com, O-Desk.com, warrior forum, etc.
When looking for people to do your projects for you there are some rules that you should follow to ensure you get the best results possible.
- Post your project in as much detail as humanly possible. Give as much description as you possible can about the project you are expecting to be created. If I was to ask someone to write this Article I would probably give them a very detailed outline and then ask them to fill in the blanks. I want to make sure it contains the content I am looking for. I also want it to contain the value my customers have grown to expect from me.
- Never accept the first bid. Many people take the first bid and first person that comes along. This will just cost you a lot of money. You can always find someone to do it a little more reasonable and just as good of a job.
Now I am not saying you should always accept the lowest bid either. Always remember you get what you pay for in most cases. Sometimes it is better to spend a little more money for quality work that will generate a higher return for your investment.
- Be patient! If you’re not getting any bites on your project just keep looking and have patience. The right person will come along. Try a couple more searches online to look for those who do freelancing.
Finding Interns for outsourcing
Many times you can find some very good interns who will do a fantastic job for you, and they will do it at a fraction of the cost over someone who sees themselves as a professional will do for you.
Interns are looking to prove themselves. They are trying to build their credibility and reputation.
Some great places to look for interns are right in front of your nose sometimes.
Local tech school and colleges are a great place to look for Interns and students that can more than do capable and quality work. The best part of this is that they each come with an expert… teacher wanting to see the students succeed.
Using Mastermind Groups
Mastermind group members- Mastermind groups are a great source for outsourcing. A mastermind group is a group of people who come together to mutually assist each other in their pursuit of success. The idea around a mastermind group is that the members of the group each provide different vital skills and knowledge that other members of the group may be lacking. They bounce ideas off of each other and offer help and advice so that they all may become successful together.
Maybe one member of the group is a writer and you are not. Maybe you can provide the person doing your writing with your video expertise.
If you do not belong to a mastermind group as of yet, I suggest that it is something that is not too far off in your future
Use people on your lists.
This is a great source for finding someone to outsource to. Once you have a list you will find that there is always someone who is willing to make some extra cash. Who better to use to help you out than the person you have been teaching.
Splitting profits with partners (works for copy as well).
I can hear it now already, “I CAN”T AFFORD TO BRING ON A PARTNER!” Let me be the first to tell you if you haven’t heard it already. “You can’t afford not to bring on partners.
Partners can / sjould complimented your strengths and your weaknesses.
Partners keep you encouraged and help hold you accountable to what you need to get done. It is much like the accountability found in a good mastermind group.
If you are having a problem with the thoughts about taking on a partner because of money issues I want you to stop and think about something very important for you to realize right now. “How much money have you made on your own?” Isn’t 50%of something better than 100%of nothing? You’re darn straight it is, and anyone who sees this differently is just not going to be capable of making this business work on their own. Sure you may eventually get some results all by yourself, but at what cost to you and your business potential?
Forums are another great place to look for those that are ready to take your business to the next level by helping you complete the tasks that you should be outsourcing to others.
One of my favorite places to visit when I am looking for freelancers is the warrior for hire section in the Warriors Forum. Just go to; warriorforum.com and begin your search.
If the warrior forum is not your place just do a Google search for, “your niche forum” You will soon find a whole world of forums opening up before you.
Product Positioning and Your Differentiation Strategy
Ok this is the section many have been waiting for. It is also one of the most important sections of this Article in many different ways. You have heard me mention product positioning and differentiation throughout the Chapters so far and I will continue to do so throughout the remainder of it.
Why New Products Fail
Your product differentiation and your positioning of the product are very weak.
Man, I'll tell you right now. There's nothing worse than sinking 6 or 12 months into creating a product that no one wants to buy. I've done it before. And it stinks. It 100% stinks.
If you are not going to take the time to do proper research to ensure that your product is positioned well in the minds of your target market you are just plain and simple going to fail. Unless you really get lucky!
Most people are in such a big hurry to get their product out to the marketplace that they don’t even stop to think about it making sense to their targeted market.
I mean you have a great product that makes total sense to you that you just spent a ton of time creating. Why wouldn’t it make sense to the person that show up? Why won’t they see the same thing you see?
It is pretty simple. It is not positioned in the right place for their mind to see the same thing you are seeing.
Ok I totally just lost you on that one. I told you it was very simple and clear to see the reason your product just failed and your setting there with a dazed and confused look on your face.
Let me show you what I mean as an example.
There was a girl who made a great product. She did her research and figured out that most of the people were failing because they did not have the right mindset going into the coaching course they were taking.
Well this was very clear and evident to both her and my-self. She had no problem whatsoever convincing me that the product she was about to create was both a great product and much needed.
One problem with the way she was going to go about doing this. She wanted it to be her entry level and main product.
Well this may be OK if she can get it in front of people that already know they have a bad mindset that needs changed.
But the audience she was going after were not these people. The audience she had felt there was nothing wrong with the mindset they had. They just wanted her to coach them, and help them make a bunch of money. They felt like they had a good mindset and were motivated and ready to go.
So by her putting this product as the entry level product into her program it was not making any sense to her students. She needed to find the best place to position it in her program where it would make sense.
What about into her product funnel where the majority of her students started trying to figure out why they were failing, when the majority were ready to give up and quit.
Now would be a great time to say, “hey let me show you something about yourself that will shed some light on the problems you are facing right now at this point of the game.
Now her students would be more willing to listen to her when she started talking about changing the way they were thinking to keep moving forward.
A good way to go about positioning your products is to think in reverse… instead of starting with yourself, you should start with the mind of your customer.
Get to know your customers.
You may have the best product and know it is something that makes sense to you.
You may even know the customer needs it. But if it doesn’t make sense to the customer, they will not buy.
Research & Communication is IMPORTANT!
This is going to take some investment on your part. You are going to have to invest (monetarily or with time) in researching your market.
Do your research to find the narrow window in the mind of your prospect or customer in order to position your products and services effectively over a product or service of your competitors.
Changing a mind is an extremely difficult task. You will find that it is much easier to work with and hook your product to what's already there.
I want to show you a little picture or diagram I created that will show you the importance and how to position your products in your product funnel or product ladder as I like to call it.
I think a product ladder shows a better example and easier to connect with.
As you bring your website visitors onto your ladder through your entry level products you need to control as much of it as possible.
If you don’t help them make it to the next rung of the ladder you will find that they will go off seeking on their own and end up at your competitors doorstep.
Now you sometimes will send them to your competitors, but you will do it through your recommendation and control. This will keep them trusting in you as the credible expert of their choice.
Below you will see your product ladder. At the very bottom of your ladder you see your entry level product. At the top is the end goal or solution to the problem your customer came to you experiencing.
Your job is to position products that will make total sense to your customer to take the next step up.
Now the great thing about this is that you do not need to be the product owner or creator to all of these products yourself, although you certainly can be.
You also can position good quality affiliate products that will make sense and help your customer take that next step.
You just need to control the gap in-between the top and bottom of the ladder.
The more help you provide your customers to fill that gap, the more value you
add to them. The more they will appreciate and respect you.
By properly positioning your products and affiliate products on your ladder the more this differentiates you from your competitors who are still scrambling around
at the bottom of the ladder trying to figure out what the customer actually wants.
Remember that you need to control as much of the ladder as possible. If you do this well your customers won’t go to competition that is offering less value, and you will have a higher increase of margin and profit.
This certainly is nothing new to you by now as I have also mentioned this several times throughout the book. But just what is your Differentiation Strategy?
This is your action designed to produce products or services that customers perceive as being different from your competition.
It is a marketing process that showcases the differences between products.
Differentiation looks to make a product more attractive by contrasting its unique qualities with other competing products.
Successful product differentiation creates a competitive advantage for the seller, as customers view these products as unique or superior.
You have to understand that most of your visitors that are coming to you will be suffering from major Information Overload Syndrome. Their minds are in protective mode at this point and you will find that the visitor will only accept new information if it directly matches their current state of mind.
It is increasingly becoming difficult to create something new that doesn't already exist in your prospect's mind. They have seen the same products rehashed and put out over and over again.
Why would they leave someone else for your product that looks to be nothing more than the same crap they have seen time and time again.
Before I go on I need to tell you that this is where most people get using Private Label Right’s products all wrong. I know I have been telling you that they are great to use and I stand behind that 100%. Private Label Right’s products are only good to use if you are going to make the choice to use them correctly.
Many people will grab a PLR product and throw it right back out without making any changes to it or even looking to see if it was good up to date information to be sending out.
What happens is the same information is presented in the same way over and over and over again until those looking for the solution to a problem just wanted to scream.
I see you nodding your head in agreement to this right now. It seems you can identify with what I am talking about then.
That is good because now I know you will go about using PLR content correctly if you choose to use it.
Most potential customers are looking to see what makes you unique and different from your competitors when they show up to your website.
They know the decision they make will put them on your list and they are looking for a good valid reason to justify in their mind why they should give you a space in the already crowded email inbox they visit every day.
Many customers’ minds are building up defenses against the huge volume of information being communicated today. The mind screens and rejects much of the information it is being offered.
It is up to you to show them what makes you unique. Why they should put their faith in you overtop of everyone else.
Right now you’re saying I know this but I have never been able to figure out what makes me different. Well let’s take a look at what it takes to achieve product differentiation
How to Achieve Product Differentiation
Product differentiation can be achieved in many ways.
- It may be as simple as packaging the goods in a creative way
- Incorporating new functional features in a software product or website
- Sometimes differentiation does not involve changing the product at all, but creating a new advertising campaign or other sales promotions instead.
A product differentiation strategy requires effective communication with customers. There are several ways you can communicate this message effectively
Three ways that come to mind are:
- Through your product advertising
- Through public relations
- Through the sponsoring of events, etc.
Advertising will usually play a very critical role in an effective product differentiation strategy.
It is not 100% necessary to create a product with actual differences if you can effectively use your advertising to convince customers that real differences actually exist. We are not talking about out and out, lying to your customer and building false differences in their mind that do not actually exist.
Also let me tell you right now that those products with actual differences will have a much easier time convincing customers that those differences exist. You will also have a much easier time at showcasing these differences with your advertising campaign
SUMMARY OF PRODUCT DIFFERENTIATION
The main points from this discussion that you need to understand are:
- Successful product differentiation leads to customer preference for products and/or services
- Customers’ preferences leads to premium price paid for products and/or services.
- There are many possible bases of differentiation—in fact, almost anything could be a base of differentiation.
- Features and benefits, packaging, new advertising and sales promotions,
- Product differentiation may, and usually leads to competitive advantage
Pricing your irresistible product or service is a very important decision’s that you will need to make. Some things to consider are:
- You must offer your products for a price your target market is willing to pay
- Price you set should produces a profit for your company or you won't be in business for long.
- Take into account your costs,
- Look at the competition’s products and service prices
- Customer's perception of value.
There will be times when you decide to set prices below cost or even FREE for specific purposes, such as trying to gain entrance into the set market, list building, or clearing inventory.
But be careful of this as you can also make your product seem as though it is one of low value in the customer’s mind.
Generally used when there's an established market price for a particular product or service.
What this is saying is that if all your competitors are charging $37 for a 100 page ebook, that's what you should probably be charging as well in most cases. At least in the same neighborhood of what your competitors are charging. Once again you will need to research the competition to see what is actually going on.
Competitive pricing is used most often within markets with products that are more difficult to differentiate from another. If you can show that your product is of considerable more value than the competitions products than by all means it is time to sell it for what it is worth.
Most of the time when you enter into any market you will find that the current market leaders are often the ones that are setting the price that other, marketers within that same market will usually be compelled to follow.
If you don’t choose to follow them you may find yourself being left out without many results to show for your efforts. Of course this is where your differentiation comes into play once again.
If you have the better product and can prove it then you set the new standard of pricing. Just do yourself a big favor and be able to defend the prices you've set.
You will have to be able to make a case for setting a higher price you’re your competitors. Example: providing and proving you have a superior customer service or stronger guarantee than your competition.
Perceived Value (Value-based pricing)
This type of pricing is used when you are basing your price you set off from what the customer perceives the value of the product to be. This perceived value determines the maximum price customers will pay.
Ways to create Perceived value
- Established reputation
- Marketing messages
- Sales environments.
- Added bonus offers
- Strong Guarantee (eliminate risk)
- Show benefits not features
- Add affiliate program (way to make money)
- Higher price
- Graphics (puts in the mind that product is real)
- Sell Resell or PLR to your product
An obvious and important component of perceived value is the differentiation or comparison customers make between you and the competition. If they can see this differentiation as being something of higher quality and value over the competition they will be more inclined to pay your price even if it is a higher price.
Something good about pricing your product using the perceived value method is that perceived value pricing makes you look at things from the customer's perspective.
So go and take a good look at it through the eyes of a customer. If you are unsure, have someone else take a good look at it and give their best honest opinion.
If the customer doesn't or can’t perceive the value worth pulling out the credit card & paying for your product or service, you need to re-think your game-plan.
Why Product Creation…Why Not Just Be an Affiliate Marketer?
By now you are really starting to doubt and wonder if product creation is really something you can do.
You are about to go looking for an easier solution to making money from your home business.
One of the methods you are considering is probably Affiliate Marketing. After all if you choose Affiliate Marketing at least you don’t have to create the products yourself.
Good thinking to a point. I still am going to recommend that you go through the process of creating your own product if you are really looking to make some good money and grow your business to its fullest potential.
Here is the reason behind what I am saying. It is a very simple reason.
It’s a food chain!
You have a choice in life: You can be at the bottom of the food chain helping make the fat cats at the top rich. This is a preferred method recommended by your competition. They would rather you keep building up their credibility and helping them to brand their business over you becoming a strong competitor in their game they are at the top of and winning.
You do have another choice though. You have the choice to make the decision to be on top of the food chain where others sell your products and help make you rich or at least better off than you are now.
I have been asking you to stop and think about several questions so far throughout this book but let me throw another one at you. Do you want to be the worker bee in a colony the rest of your life working like crazy trying to sell everyone else’s products? Or do you want to have a whole lot of people selling your products for you instead.
You can work hard making other people money. Or you can have other people working hard to make you money. Which do you want?
I like to throw some little secrets out to you once in a while and here is another one for you to digest. The only secret of success in this simple business of ours is this…
Find out what people want to buy, create it and then sell it to them!
Please understand that there's nothing wrong with selling other people's products while you're developing your own. There are a number of people who make good money selling products as Affiliates.
But the best way to use Affiliate products is to have your own lead product and use Affiliate products (other people's products) to position properly in your marketing funnel, or on your ladder to make repeat sales to existing customers.
Having your own products help you build the credibility you need so desperately to really make it in this business and it also positions you as the credible expert in your targeted Niche.
Do not miss out on the importance and the need of having your own product. I will end this chapter by saying you notice I didn’t say. “YOU” have to create it.
Irresistible Offer Summary
- Make your offer irresistible. Make it worth the effort to the customer to place the order. Transfer the risk from the customer to you and add a sense of urgency.
- Not many websites have truly irresistible offers in the market right now, which means you have plenty of room to differentiate yourself from competitors.
- Think in reverse… instead of starting with yourself, you should start with the mind of your customer. Get to know your customers.
- You may have the best product and know it is something that makes sense to and that your customer needs it. But if it doesn’t make sense to the customer, they will not buy.
- The type of irresistible offers you create are limited only by your imagination, so now’s the time to start brainstorming about yours!
- So, if you can bring these items together, you have put together an irresistible offer and will have a much better chance of making a sale.